Chinese President Xi Jinping today defended his ambitious multi-billion dollar Belt and Road Initiative (BRI), saying China has no "geo-political calculations" and the project will benefit the world.
Touted as Xi's pet project, the BRI has become a major stumbling block in India-China relations as the controversial USD 50 billion China Pakistan Economic Corridor (CPEC) has been listed as its "flagship project".
In a key speech outlining his vision at the Boao Forum for Asia (BFA) at the Chinese city of Boao, Xi said the BRI may be China's idea but its opportunities and outcomes are going to benefit the world.
"China has no geopolitical calculations, seeks no exclusionary blocs and imposes no business deals on others," he said in an apparent reference to apprehensions that the BRI in which China is investing billions of dollars in port, road and rail connectivity projects all over the world is aimed at furthering China's influence.
The BRI focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe. India has objected to the CPEC as it is being laid through the Pakistan occupied Kashmir (PoK) and boycotted a high-profile Belt and Road Forum organised by China last year.
At the BFA meeting attended among others by Pakistan Prime Minister Shahid Khaqan Abbasi, Xi said, "It must be pointed out that as the BRI is a new initiative, it is perfectly natural that there will be different views on cooperation."
"As long as the parties embrace the principle of extensive consultation, joint contribution and shared benefits, we can surely enhance cooperation and resolve differences," he said.
"This way, we can make the BRI the broadest platform for international cooperation in keeping with the trend of economic globalisation and to the greater benefit of all our peoples," Xi said.
This is the first major speech by Xi after he began his second five-year tenure last month.
He is widely expected to continue in power for life as China's parliament has removed the two-term limit for the president through a constitutional amendment.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
